Damn it's hard to keep track of all their projects.
They are gathering toether quite a suite of IO exploration assets that need to be disected.
Then they have $70m ish and their investments...
Lets try and make heads and tails of their last Qtly with updated resources over the past month or so.
Numerous significant drill intersections were returned from continuing resource drilling programs at the Company’s wholly owned iron ore projects;
• Western Creek Iron Ore Project: Giralia’s JORC hematite resource at Western Creek was increased by 38% to 40.7 million tonnes@ 57.3% Fe through addition of mineralisation on newly acquired tenements. Strong new results from a 71 hole drilling program are likely to substantially further extend the current resource, including; 36 metres @ 58.0% Fe, 22 metres @ 58.7% Fe and 32 metres @ 56.5% Fe. Mineralised Marra Mamba Formation was also confirmed by initial drilling of newly acquired Homestead prospect 10 km to the north including 20 metres @ 55.2% Fe and 6 metres @ 57.3% Fe.
increased to 52.4 million tonnes on 11 March
• Earaheedy Iron Ore Project: Positive assay results were returned from a 121 hole RC drilling program at the greenfields Earaheedy iron ore project, with significant results returned from 4 of the 8 hills drilled including; 20 metres @ 55.7% Fe, 12 metres @ 57.3% Fe (from surface), and 12 metres @ 56.1% Fe within 38 metres @ 53.6% Fe (open at end of hole). A substantial follow up program is being permitted including testing of many of the remaining 15 untested hills of high grade hematite outcrop.
• Anthiby Well Iron Ore Project: New discovery of thick zones of channel iron (CID) mineralisation confirmed by a 87 hole drilling program completed at Anthiby Well prospect, 100 km west of Paraburdoo in the Pilbara region. Results include 32 metres @ 55.1%Fe including 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.
Initial resource out on 27 Mar
Initial iron ore Mineral Resource for Giralia’s 100% owned Anthiby Well project.
o 63.5 million tonnes @ 50.5%Fe (55.8% CaFe), including
o 37.6 million tonnes @ 53.6%Fe (59.1% CaFe)
• This maiden estimate for the Anthiby Well channel iron deposit (“CID”) is based on an 87 hole first pass drilling program completed in December 2008.
• The resource is near surface; within ~40 metres of natural land surface.
• Drilling results include 32 metres @ 55.1%Fe incl. 24 metres @ 56.0%,
• Beebyn Iron Ore Project: Results from an 82 hole drilling program confirm extensions to the initial JORC hematite resource of 7.2 million tonnes @ 57.2% Fe at the Company's 100% owned Beebyn-Weld Range deposit in WA's Mid West with intersections including 12 metres @ 59.3 %Fe. Results from the first drill testing of 3 of 7 hematite zones discovered at nearby Beebynganna Hills are encouraging, including 10 metres @ 57.7% Fe, and 6 metres @ 61.8%Fe.
And then then Yerecoin Mag deposit ann on 21 April
EXCELLENT RESULTS FROM INITIAL DRILLING AT YERECOIN MAGNETITE PROJECT
• Initial wide spaced drilling at Yerecoin magnetite project returns positive results;
o Intersections include;
72 metres @ 32.4% Fe including 56 metres @ 35.7% Fe
50 metres @ 30.3% Fe within 116.3 metres @ 21.7% Fe
• Excellent magnetic separation results from sighter Davis Tube Testwork
Typical DTR concentrate grades > 70% Fe, < 2% SiO2
Typical DTR weight recoveries > 40%
• Exceptionally coarse grind size for magnetite liberation
• Key is existing railway within 1 kilometre
CORPORATE
In addition to a cash balance of around $70 million at 31 December 2008, the Company also holds the following strategic stakes in several ASX listed companies, largely as a result of the spin-off of independently managed and funded companies over the last 2 years. Giralia shareholders have benefited through priority IPO entitlements and in specie distributions.
PacMag Metals Limited ("ASX: PMH") copper Giralia ~10.4% stake
U3O8 Limited ("ASX: UTO” uranium Giralia ~16.3% stake
Zinc Co Australia Limited ("ASX: ZNC”) zinc Giralia ~12% stake
Carpentaria Exploration Limited ("ASX:CAP") NSW, Qld Giralia ~10.4% stake
Hazelwood Resources Ltd ("ASX: HAZ") nickel Giralia ~ 5% stake
Peninsula Minerals Limited ("ASX: PEN") uranium Giralia ~ 2% stake
Too lazy at the moment to check what all that's worth....
:
I wonder when the next IPO comes out?